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The Morning Doji Star

The Morning Doji Star formation is a special form of the Morning Star pattern. The main difference is that the middle candle of the morning doji star is a doji (see image).

The first candle of the pattern is always bearish. The second candle has an insignificant or preferable a zero size real body (a doji). The third candle is always bullish. The open and close of the second candle lies below the real body of the first candle but it could overlap with the lower shadow of this candle. The body of the first and third candle is usually long.

If the high of the second candle (the doji) is below the low of the first candle (the bearish candle) then the formation is called an abandoned baby bottom. This formation rarely occurs.

The Evening Doji Star

The Evening Doji Star formation is a special form of the Evening Star pattern. The main difference is that the second candle of the evening doji star is a doji (see image).

The first candle of the pattern is always bullish. The second candle has an insignificant or zero size real body (a doji). The open and close of the second candle lies above the real body of the first (the bullish candle). The third candle is always bearish. The body of the first and third candle is usually long.

If the low of the second candle (the doji) is above the high of the first candle (the bullish candle) then the formation is called an abandoned baby top. This formation rarely occurs.

Note: Both Morning and Evening Doji Star patterns generate many false signals. It is important to make sure they are located at the extremes of the chart and also use other technical or fundamental tools to confirm them.

Locating "Doji Star" Formation in a Chart

I have developed a custom indicator for MetaTrader 4 that locates both Morning and Evening Doji Star formations in a Forex chart. The indicator locates Morning Doji Star with up arrows and Evening Doji Star with down arrows (see image).

Download the "DojiStar" Indicator [download]

Click here to download the compiled version of this indicator. I have designed the indicator for MetaTrader 4 (MT4). If you are not using the latest build of MT4 then you may encounter technical problems. Click here for more information and possible solutions.

If you are not familiar with using custom indicators then click here.

If you are one of my MQL students you may download the source code of this indicator from your training site. Click here for more information about my MQL training program. You may also click here for more information about different options that I offer for training MQL (one of them is absolutely free).

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Previous Candlestick Lessons:

Lesson 01: An Introduction to Candlestick Charts

Lesson 02: Umbrella Lines - Reversal

Lesson 03: Doji Candles - Part 1

Lesson 04: Doji Candles - Part 2

Lesson 05: The Spinning Top Candle

Lesson 06: The Engulfing Pattern

Lesson 07: Dark-cloud Cover

Lesson 08: Bullish Piercing Formation

Lesson 09: Window - Falling and Rising

Lesson 10: Morning Star a Bullish Reversal Pattern

Lesson 11: Evening Star a Bearish Reversal Pattern

Lesson 12: Shooting Star a Bearish Reversal Pattern